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‘Nothing but Good News’ for Market: Weiss

Market Has 'Nothing But Good News': Weiss
Market Has 'Nothing But Good News': Weiss

A variety of positive economic factors in the United States and abroad means good things for stocks, Stephen Weiss of Short Hills Capital said Friday on CNBC.

"There's so much good news out there," he said, pointing to a variety of catalysts:

  • Rep. Paul Ryan, R-Wis., saying that the debt ceiling issue could be pushed back three months;
  • Strong growth in China;
  • Better-than-expected earnings from General Electric;
  • Europe, "that's sort of stabilizing";
  • Japan looking at 2 percent inflation rather than deflation.

On "Fast Money," Weiss said it was time to put on risk.

"I think the market right now has nothing but – not green shoots - it's got blossoming flowers," he said. "Go buy it."

Trader disclosure: On Jan. 18, 2013, the following stocks and commodities mentioned or intended to be mentioned on CNBC's "Fast Money" were owned by the "Fast Money" traders: Steve Weiss is long SCCO; Steve Weiss is long CNX; Steve Weiss is long RIMM; Steve Weiss is long T; Jon Najarian is long MS CALL SPREADS; Jon Najarian is long AMAT CALL SPREADS; Jon Najarian is long ATE; Jon Najarian is long NANO; Jon Najarian is long TWI CALL SPREADS; Pete Najarian is long AAPL; Pete Najarian is long BAC CALLS; Pete Najarian is long GS CALLS; Pete Najarian is long JPM CALLS; Pete Najarian is long RIMM; Pete Najarian is long SBUX; Pete Najarian is long SBUX CALLS; Pete Najarian is long FB; Pete Najarian is long MSFT; Pete Najarian is long GE; Joe Terranova is long VRTS; Joe Terranova is long AAPL; Joe Terranova is long GS; Joe Terranova is long AXP; Joe Terranova is long MS; Joe Terranova is long GLW; Joe Terranova is long DELL; Joe Terranova is long MMM; Joe Terranova is long SWN; Joe Terranova is long XOM.